Intellect launches Magic Aadhaar, an AI powered Aadhaar processing solution
By Leandra Monteiro
A cloud-native, multi-product FinTech company for financial and insurance clients, Intellect Design, announced the launch of Magic Aadhaar, an AI-powered comprehensive processing solution to identify, extract, validate and mask Aadhaar details.
With the use of Aadhaar-based processing it hyper digitises the end-to-end process. Security and confidentiality of customer PII specific information is always a top concern of any individual. Especially those regularly interacting with external entities like, financial institutions, telecom companies, healthcare and government entities.
Recently the Hon’ble Supreme Court and regulatory bodies (RBI, IRDA, etc) issued a directive on usage and storage of Aadhaar Cards details while processing any on-boarding. To ensure that the companies are compliant with the issued directives, Intellect has launched a comprehensive solution built-in for end-to-end compliance.
Commenting on the product, Banesh Prabhu, CEO, Intellect SEEC said, “Magic Aadhaar, powered by IDX platform, is a cognitive information extraction, validation and enrichment platform, which extracts contextually relevant information from bundles of unstructured, semi-structured and structured sources using AI technologies. The solution includes pipelines of computer vision, NLP, machine/deep learning and OCR. It can process over 500 document types in 87% less time and a 98% accuracy rate. The solution also identifies the Aadhaar Pattern across the document in a Contextual way.” He further added, “The solution further masks the first 8 digits of the Aadhaar Number, leaving the last 4 digits open and it is capable to run as a Real Time API or in bulk processing mode on the stored documents.”
Highlights of the solution:
- Accurate, purpose-built AI solution for automatic classification, extraction and masking of Aadhaar number from document sources like application forms, service requests etc.
- Scalable and nimble to support the real time and legacy backlog volumes
- An API ready solution with easy integration to various applications or data vaults
- Regulatory complaint with integrated reporting on quality assessments for audit checks
Magic Aadhaar assesses the quality of input documents and classifies it through contextual identification of the Aadhaar number from various document type not limited to Aadhaar card. It further extracts relevant information from the card in a JSON or CSV format; validate the details with external UIDAI Authentication API and within the document set for integrity checks. Finally, it does full or partial masking of the Aadhaar number, as needed for compliance and to seamlessly integrate structured output to target systems.
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October 07, 2022
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